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was appointed by president george w. bush to head the federal deposit insurance corporation, the fdic. now as senior advisor to the pew charitable trust, sheila bair has just organized a private group of financial experts called the systemic risk council. among its members, former fed chairman paul volcker, former senators bill bradley and alan simpson, john reed, once the chairman of citigroup, and brooksley born, the former cftc chairman who back in the 1990s accurately predicted an economic meltdown. its mission, to prevent the banking industry from scuttling the reforms created by the dodd-frank act, and, hopefully, prevent another crash. she has a book coming out in late september about the need for reform called "taking the bull by the horns." she's also written two books for children about money and entrepreneurship. "rock, brock and the savings shock" and "isabel's car wash." sheila bair, welcome. >> thank you. happy to be here. >> if you were trying to help some of those young people that you write for, understand this business called libor, how would you begin? what's the "once u
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